Bonus buckets
I should definitely know the answer to this, so apologies - just wondering what determines whether we are bottom, middle or top bucket? I understand it's a mix of how well the bank does at large, how well your specific group does and then how good your individual performance is. Please correct me if I'm wrong.
Out of those factors, what do you think is the impact of each of them on the final number ($)? Like which factor is most important?
Your performance determines your bucket.
For setting the $ amounts per bucket, 1) Overall market performance, 2) your bank’s specific performance and 3) your group’s performance are what matters. It varies bank to bank, but some banks (typically boutique and mm) have set buckets that are the same across all groups within the same category (e.g., all coverage groups have the same $ amount by bucket) for junior bankers, so then your individual group’s performance is obviously not as crucial. So if you’re in healthcare and the group shits the bed, but tech crushes it, you can still get paid well at the junior level.
In the past it seemed much more that #1 was most important in setting $ amounts because even if Bank A did not do as well as Bank B, but they knew Bank B would pay $X, then Bank A would want to pay at the same level as Bank B. This year, it’s much more of a crapshoot with all of the changes in comp and feels like #2 and #3 are more important in setting the $ amounts.
Hopefully that helps.
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